The accountancy firm that pocketed £30 million for advising the “Phoenix Four”
on their ill-fated attempt to resurrect MG Rover is facing a record fine
after being found guilty of “significant misconduct”.

Deloitte persistently and deliberately flouted professional standards when it
arranged two lucrative deals for the consortium of Midlands businessmen, an
independent disciplinary tribunal has found, eight years after the
independent carmaker collapsed with the loss of 6,000 jobs.

The finding is a huge embarrassment to the Big Four accountancy giant, which
has consistently denied any wrongdoing in its work for John Towers, Nick
Stephenson, John Edwards and Peter